More Electric Aircraft Market by Technology, Application, Platform and Region - Global Forecast to 2021

1
More
Electric
Aircraft
Market
by
Technology,
Application,
Platform
and Region - Global Forecast to 2021
The report "More Electric Aircraft Market by
Technology (Power Electronics, Thermal
Management,
Energy
Storage
(Power
Others),
Application Generation, Passenger Comfort,
Air Pressurization Others) Platform
(Fixed
Wing,
Rotary
Wing),
and Region - Global Forecast to 2021", published
by MarketsandMarkets, the more market is
projected to grow
from USD
7.68
Billion in
2016 to USD 10.94 Billion by 2021, at a CAGR of
7.33 from 2016 to 2021. Decrease in aircraft
operating and
maintenance
cost,
reduction
in carbon emission and airport noise, and the
need for optimized aircraft performance are the
major factors driving the more electric
aircraft market.
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The use of electric power in airframe systems
saves fuel and helps in cost reduction. The more
electric aircraft architecture also helps in
reducing maintenance costs as it requires fewer
moving or non-moving parts, as compared to the
conventional aircraft systems. These factors
have led to the manufacturing of aircraft
engines and architecture with improved electric
components.
Power electronics segment projected to lead the
more electric aircraft market during the forecast
period
Based on technology, the power electronics
segment is expected to account for the largest
market share during the forecast period. The more
electric aircraft uses electrical energy instead
of hydraulic, pneumatic, and mechanical means to
power virtually all its subsystems, including
flight control actuation, environmental control
system, and utility function. Power electronics
help improve both the generator's (mechanical
to electric) and actuator's (electric to
mechanical) energy conversions and also enable
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better energy regeneration. Power electronics
also helps in reducing weight, is easier
to maintain, and provides more controllability
and intelligence which includes fault detection
and diagnosis.
Power generation management segment expected to
grow at the fastest rate during the forecast
period
Power generation and management plays an
important role in the more electric
aircraft architecture. With the growing aircraft
electrical system power levels, the diversity of
the power generation types is increasing as well.
Upcoming advanced technologies and increasing
application of more electric architecture for
different functions by various OEMs in their
aircraft are expected to propel the demand for
power generation management systems during the
forecast period.
North America estimated to be the largest market
for more electric aircraft
North America is estimated to lead the More
Electric Aircraft Market, owing
to technological advancements in more electric
aircraft and presence of key players, such as
General Electric Co. (U.S.) and United
Technologies Corporation (U.S.) in the
region. Economic growth, expansion of commercial
military aviation, and space missions
by various space agencies are factors driving the
North American more electric aircraft market.
Growth of the North American more electric
aircraft market in military aviation application
can be attributed to the growing military
modernization programs, which include increased
procurement of spacecraft, manned unmanned
aircraft, and helicopters, among others.
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Key Market Players
General Electric Co. (U.S.), United
Technologies Corporation (U.S.),
Rolls-Royce Holdings plc. (U.K.), and Honeywell
International, Inc. (U.S.), are the key
players operating in the more electric aircraft
market. A market share analysis has been
carried out by tracking all products of key
market players, their geographical presence,
and recent developments.
Dont miss out on business opportunities in More
Electric Aircraft Market. Speak
to our analyst and gain crucial industry insights
that will help your business grow.
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